Boston-based Artificial Intelligence (AI) developer Newmetrixhas closed its Series A funding round for $7 million, with money coming from Autodesk, Borealis Ventures, Castor Ventures, in addition to its original funders.
Autodesk sees this as a strategic investment in machine learning within the AEC space and Newmetrix is now integrating applications based on its ‘Vinnie’ engine into Autodesk BIM 360. Borealis Ventures also has a proven track record in AEC investment having been early investors in SketchUp, Revit and Flux.io.
Newmetrix was AEC Magazine’s booth buddy at last year’s Autodesk University and founder Josh Kanner gave us a very impressive demonstration of Newmetrix’s capabilities. Using speech and image recognition, the technology makes photos and videos searchable for AEC equipment, material and material defects - just about anything it’s taught to identify. This can be applied to images, drone footage or recorded video.